Gold's Gym is the largest chain of coed fitness centers in the world, with locations in 42 states and more than 30 countries outside of the U.S. With a membership of more than 3 million at their 600+ locations, Gold's is credited with helping to establish and fuel the growth of the bodybuilding subculture.
Joe Gold
Joe Gold's personal interest in bodybuilding began as a teenager in the 1930s, when he began assembling his own equipment from scrap metal and abandoned car parts. He opened his first fitness center, Ajax Gym, in New Orleans in 1951. His first venture did not last long, however, and he quickly abandoned Ajax Gym for the Muscle Beach Weightlifting Club on Santa Monica Beach, California. Though the group was interested in collaborating on an indoor weightlifting facility, such plans were not quick to materialize. With his previous experience in the fitness business, Joe Gold decided to independently open the first Gold's Gym in Venice Beach using innovative equipment that he had designed and built himself.
Sale And Bodybuilding Boom
Again growing disinterested in the operations side of the business, Gold sold his gym for $50,000 to Bud Danitz and Dave Sachs in 1970. Glorified in books and films, the bodybuilding subculture gained mainstream popularity in the 1970s. Though numerous other fitness centers arose across the U.S., Gold's continued to grow in popularity due to its history, bare-bones facilities, strict focus on bodybuilding and celebrity endorsements by such rising stars as Arnold Schwarzenegger.
Changing Hands And Growth
Gold's Gym again changed hands in 1977. Purchased by bodybuilder Ken Sprague, Gold's was then sold in 1979 to a group of investors for $100,000. This group began franchising Gold's in 1980, opening the second Gold's Gym in San Fransisco. By 1988, the company boasted more than 220 gyms across the U.S. Apparel, merchandise and nutritional supplement sales followed a similar trajectory under the new ownership, starting in 1980 exclusively in Gold's Gyms and eventually expanding to unaffiliated retail outlets.
International Growth And Shift of Focus
Beginning in the early 1990s, Gold's expanded into Europe, Asia and Australia, reaching 400 gyms worldwide by 1993. Between 1987 and the late 1990s, Gold's membership increased from 13.8 million to 22.4 million, largely due to a growing diversity in membership. Though the company was founded on a strict focus on bodybuilding, Gold's Gym began marketing to older individuals and families, introducing overall fitness into their previously exclusive bare-bones bodybuilding focus.
Change of Ownership
Gold's again changed hands in 1999, with Washington, D.C. franchise owners Kirk and John Galiani buying the company for an estimated $50 million to $100 million. Despite introducing some changes, their tenure was brief due to their interest in returning to the management of individual franchises. The brothers eventually sold Gold's Gym, with TRT Holdings purchasing the company for $160 million in 2004.
Present Day
Still owned by TRT Holdings, Gold's has become one of a few international chains of fitness centers. With new gyms boasting such facilities as pools, spas and cardio cinemas, Gold's Gym has long-since shed the bare-bones weightlifting image popularized by its Venice Beach location. Gold's is now officially sponsored by AARP and has been a partner of and major fundraiser for the American Diabetes Association since 2004. Due to a combination of marketing and such philanthropic efforts, Gold's is now defined by a much softer image and more diverse membership than which it has traditionally been associated.
Member Comments